Utah gas prices drop 10 cents per gallon since August

By Jasen Lee , Deseret News

Published: Tuesday, Sept. 10 2013 6:10 p.m. MDT

AAA Utah reported Tuesday that the current average price for a gallon of regular gasoline in the Beehive State was $3.63 - 10 cents lower than last month and down 18 cents from a year ago. (Associated Press)

SALT LAKE CITY — Utah drivers are finally getting some relief as the fuel pump.

AAA Utah reported Tuesday that the average price for a gallon of regular gasoline in the Beehive State is $3.63 — 10 cents lower than last month and down 18 cents from a year ago.

All Utah cities tracked by AAA — with the exception of Moab — reported lower prices from August’s report. The greatest decrease was in Logan, which saw a 15-cent decline.

The national average for a gallon of regular fuel was $3.56, down 27 cents from the same time last year. The only states registering prices over the $4 mark were Alaska and Hawaii.

“Plentiful supplies, weaker demand, the anticipated change to cheaper winter-blend gasoline in mid-September and a relatively mild hurricane season are reasons for the decreasing prices,” AAA Utah spokeswoman Rolayne Fairclough said. “However, the possibility always remains that escalating violence in the Middle East, hurricanes or unexpected disruptions to supplies or distribution could send prices higher.”

Gasoline prices have held at a consistent mark of $3 or more for nearly three years, Fairclough said. The last time the national average for a gallon of gas was below $3 was in December 2010. However, Utah’s average price fell below $3 on Jan. 26, 2013, she added.

Nationally, West Texas Intermediate crude oil prices have surged more than 25 percent from a 2013 low of $86.68 on April 17 to a multiyear high of $110.53 last week. At the close of formal trading on the NYMEX on Monday, WTI settled at $109.52 — the 47th consecutive day of trading above $100 per barrel.